Optimizing Accounting Functions with Front Burner
Results by the Numbers
How Fintech Helped Front Burner Accounting
Prior to Fintech, Front Burner Accounting understood that their clients had ongoing difficulties successfully managing alcohol invoice payments and manual invoice data entry. Both processes were time-consuming and left too much room for human error, creating challenges during reconciliation. Front Burner also saw its clients’ issues with expanding into multiple states from adhering to variable payment terms set by state regulatory boards. Businesses would need to engage in cash forecasting to plan for cash-on-delivery alcohol drop-offs. They would also need to wait for checks to clear to balance their books, a time-consuming process leaving accounts in fluctuation. Not to mention the time wasted by managers having to manually enter line-item invoice data into their back-office system. These dated processes take away valuable time that managers could be spending on the floor or addressing other parts of their business.
The Fintech Solution
Front Burner swears by Fintech’s convenience and features. In fact, Stacy O’Fallon, CMA and Owner of Front Burner, says she considers Fintech integration a requirement to be an accounting services client. Front Burner works with various businesses, so having a uniform automated invoice payment tool helps establish consistency between their restaurants, breweries, and distilleries. Stacy noted that Fintech allows all vendors to be paid on time and in compliance with their corresponding state alcohol payment regulations, allowing them to expand their footprint and increase revenue.
Best of all, Fintech allows Front Burner’s clients more time to focus on the personal side of their business. Instead of having to spend time manually entering line-item invoice data, managers can rest assured knowing all their payment and invoice data is being seamlessly integrated into their back-office system. This eliminates the risk of errors from manual data entry. Front Burner also mentioned the convenience of having Fintech’s support team available to help onboard clients, including smaller local vendors.
For Front Burner, Fintech is a vital component of their accounting and compliance success. The platform keeps all locations aligned with one master login for all locations, ensures vendors get paid on time, and handles EDI file integration.
What Our Partners Say
“Accounting departments love using Fintech. Its line-item integration into different systems like Plate IQ or xtraCHEF makes invoice and data tracking simple. Fintech can take invoices with mixed payment rules, for example if there is a 30-day payment processing rule for beer and wine but cash-on-delivery for liquor, and pay them accordingly and automatically. Its master login for all accounts is a game changer. I honestly don’t see a downside [to Fintech].”
Stacy, O’Fallon, Certified Managerial Accountant & Owner | Front Burner Accounting
About the Client
Headquartered in Eden Prairie, Minnesota, Front Burner Accounting services clients on and between coasts. They specialize in restaurant accounting from start to finish. Whether you’re just starting out, struggling, growing, or knocking it out of the park, they will streamline financial operations into a model that allows you the freedom to focus on operations. Some of their notable clients include 6Smith, A Pots & Pans Production, Blue Plate Restaurant Company, Cooper’s Hawk Winery & Restaurants, and many more!